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It is not just the light that causes this, if u check ur circuit board u will probably find some capacitors with swollen or poped tops, replace them and verify that the power supply does not heat up excesively or produce a burning smell when switched on, check resistors and capacitors. This should help.

You should check out the post on this subject, called green blinking light of death. It's not dead, it's easily fixable with a soldering tool. There's a post on this subject by Chris and Nat (solution #9 in a long line of not so useful solutions). We have an '03 that has a bit of a different layout than what they posted, but the principle was the same. Replace the capacitors and you are good to go! It took us less than $15 and less than two hours of not-so-intense work to get it going.

It sound like you have a leaky capacitor in your power supply, or video circuit, that is causing noise in the picture. I would have to refer you to a television technician in your area. This would seem like a simple repair. Leaky capacitors can become stable after they warm up.

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Normally, the main cause of this problem is the solder connection under the convergence IC's.
You would see rings around the legs that have bad solder joints.
My shop would replace both of the IC's.
I don't have a schematic in front of me, but, I'm pretty sure the IC's are STK392-110. We use the STK392-150 in place of them since they are a heartier IC.
When replacing these IC's, remember to use semiconductor compound on the back side of the IC when placing the parts against the heat sink.
Any questions, respond to this post and I will reply.

Sorry to say but you will need thehelp of a pro.The problem you are discribeing sounds like a Convergence defect,where the so called amps are bad and require replacement and a reajustment .
Call around and see if you can get a quote ona Convergance repair
Good Luck Walter Grzybowski